Iron & Steel Products company Surya Roshni announced Q3FY24 & 9MFY24 results: Consolidated Q3FY24: Revenue: Rs 1,938 crore, down by 4% compared to Q3FY23. EBITDA: Rs 158 crore, a decrease of 3% from Q3FY23. EBITDA margins for Q3FY24 stood at 8.2% as against 8.1% for the same quarter last year Profit Before Tax (PBT): Rs 121 crore, a slight decrease of 1% from Q3FY23. Profit After Tax (PAT): Rs 90 crore, remained unchanged from Q3FY23. Consolidated 9MFY24: Revenue: Rs 5,729 crore, down by 2% compared to 9MFY23. EBITDA: Rs 414 crore, a growth of 13% from 9MFY23. Profit Before Tax (PBT): Rs 306 crore, a significant increase of 25% from 9MFY23. Profit After Tax (PAT): Rs 225 crore, a notable increase of 25% from 9MFY23. Commenting on the results, Company’s Managing Director, Raju Bista, said, “On sequential basis, the overall performance of the company has been satisfactory given the volume de-growth witnessed in Q3FY24. This demonstrates the company’s ability to withstand economic headwinds. EBITDA for Q3FY24 stood at Rs 158 crore as compared to Rs 164 crore in the same quarter last year. We were able to sustain our overall EBITDA margins primarily on account of significant improvement in lighting and consumer durable business. We registered PAT of Rs 90 crore in Q3FY24, similar to what we had recorded in Q3FY23. However, on sequential basis, EBITDA, PBT, and PAT witnessed a growth of 14%, 16%, and 19% respectively. We firmly believe that these headwinds are temporary, and the company is poised for sustained growth in both businesses." Result PDF
Iron & Steel Products company Surya Roshni announced Q1FY24 results: Revenue of Rs 1,875 crore in Q1FY24 compared to Rs 1,840 crore in Q1FY23, up 2% YoY. Company reported a sustained growth momentum on a YoY basis, driven by value-added products and better volumes. With softening of commodity prices and better volume led EBITDA to improve by 65% to Rs 116 crore; EBITDA margins for Q1FY24 stood at 6.2%. Profit after tax stood at Rs 59 crore reporting a growth of 166%, on account of reduced finance costs. Debt further reduced by Rs 171 crore and debt to equity ratio for June 30, 2023, stands at 0.12x. Focused on innovating new-aged products, premiumization coupled with marketing and advertising campaigns, and expanding geographical footprint. Celebrating 50 Years of Trust and Excellence. Healthy volume growth of 20% in Steel Pipes and Strips. Growth in Lighting and Consumer Durables by 11.5%. Sustained performance driven by value added products and improved product mix. Commenting on the results, Company’s Managing Director, Raju Bista, said, “The overall performance of the company has been satisfactory given a robust volume growth. This benchmarks the company’s ability to withstand economic headwinds. Despite the seasonality and falling commodity prices, EBITDA grew by 65% and profit after tax recorded a healthy growth of 166%; supported by the demand in value added products, improved product mix and reduction in debt. We firmly believe that these headwinds are temporary, and the company is poised for sustained growth in both the businesses." Result PDF